Recent high flyer Alkemy Capital Investments (ALK) announced that its wholly owned subsidiary Tees Valley Lithium Ltd has agreed the terms of a Long Term Lease in respect of its lithium hydroxide processing facility in Teesside.
The company said this represents another significant milestone for Tees Valley Lithium as we seek to become Europe’s first and largest independent and sustainable lithium hydroxide processing hub.
San Leon (SLE), the independent oil and gas company focused on Nigeria, updated in relation to the Company’s proposed refinancing discussions, its MM Capital $50 million loan facility and its working capital position. The company also announced the proposed sale of its non-core investments relating to the Oza oil field. It said that a prospective alternative lender has also indicated that it may have an interest in taking an equity position in San Leon by acquiring existing ordinary shares from certain shareholders. As the Company seeks to diversify its shareholder base and build long term support ahead of the planned expansion of its activities in Nigeria, the Board considers that financing on this basis represents a substantial improvement over the MM Capital Facility.
Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, announce its interim results for the period from 1 April 2022 to 30 September 2022. The Group produced 99,928 tons of clean metallurgical coal in the period and recorded sales of $17.4 million for the period against a volatile met-coal price. The company said it had witnessed its first positive gross profit before depreciation.
Perhaps the answer as to why shares of Ferro-Alloy Resources (FAR), the vanadium producer has arrived today. It announced an update on the ongoing feasibility study into the large Balasausqandiq vanadium project. The company said the drilling programme for Phase 1 of the Feasibility Study has been completed and an updated resource estimate for Phase 1 will be announced during Q1 2023. Similarly, the drilling programme for Phase 2 of the Feasibility Study has been completed as far as possible and the Company is assessing drilling options for a residual area of difficult topography.
Thor Explorations (THX) announced drill-intersections of significant gold mineralisation from the Makosa gold deposit at its Douta Gold Project, Senegal. The Douta Gold Project encompasses the Makosa gold deposit which currently comprises an Inferred Resource of 730,000 ounces of gold, grading at 1.53 grams per ton, as announced in its maiden Mineral Resource Estimate published on 18 November 2021.
Predator Oil & Gas (PRD), the Jersey based oil and gas company, announced that it has entered into a binding Term Sheet with Challenger Energy Group. The company said it was delighted to have negotiated an amicable settlement with Challenger Energy – which gives a positive footing for both companies to move forward – and gives Predator access to the under-developed Cory Moruga field.
Upland Resources (UPL) announced the November workflow update on the SK334 Joint Technical Study activity in Sarawak, Malaysia. The company said it is unequally positioned in the region and that time and resources spent in adding value to the Sarawak SK334 JTS workstream have potential to generate significant returns for shareholders.
Enwell Energy (ENW), the AIM-quoted oil and gas exploration and production group, announced the spudding of the GOL-107 well at its Mekhediviska-Golotvshinska gas and condensate field in Ukraine. The GOL-107 well is a development well and has a target depth of 5,190 metres. The company said drilling operations are scheduled to be completed by the end of the third quarter of 2023, and, subject to successful testing, production hook-up is scheduled during the fourth quarter of 2023.
Velocity Composites (VEL), a supplier of digital technology, provided a trading update for the 12 months to 31 October 2022. The company said it expects to publish its FY2022 results on Tuesday 24 January 2023 and anticipates that FY2022 sales will be no less than £11.9m (FY2021: £9.8m).
Tekcapital (TEK), the UK intellectual property investment group, announce that forthcoming IPO MicroSalt® has been named the 2022 Sodium Reduction Technology Provider of the Year by Global Health & Pharma.
Egdon Resources (EDR) announced that it has signed a conditional agreement to acquire the entire issued share capital of Aurora Production (UK) Limited from Aurora Petroleum Limited. Aurora Production is a private company, which holds an 18.75% interest in the Edgon operated licence PL090 which contains the Waddock Cross oil field and an 8.33% interest in the IGas operated licence PEDL070 which contains the Avington oil field.
Redx (REDX), the clinical-stage biotechnology company, announced audited financial results for the year ended 30 September 2022. The company said it was excited by the potential of the five clinical molecules it has discovered to treat significant unmet needs in cancer and fibrosis.
Kazera Global (KZG), the AIM quoted investment company, announced that it has signed a definitive agreement to sell its 100% interest in African Tantalum (Proprietary) Limited to Hebei Xinjian Construction for cash consideration of $13m. The company said this represents a real milestone for Kazera as the first realization of returns from an investment in line with its stated strategy as an investing company of building value in investments whilst maintaining flexibility for opportunistic exit points.
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